Around 1,300 McColl’s jobs have been put at risk after Morrisons revealed proposals to shut 132 loss-making stores in the convenience chain it bought this year.

The supermarket sealed an agreement deal to buy its troubled rival for £190m in a rescue deal in May.

Morrisons has unveiled plans to overhaul the firm after competition regulators said last week they were set to clear the buy-up.

Takeover: Morrisons sealed a deal to buy its troubled convenience store chain for £190m in a rescue deal in May

Takeover: Morrisons sealed a deal to buy its troubled convenience store chain for £190m in a rescue deal in May

Bosses expect some McColl’s stores to return to profitability as part of its turnaround.

Bradford-based Morrisons, which itself was bought in a £7bn deal last year, said all staff at risk from the closure plans will be offered roles elsewhere in the company.

It will also convert McColl’s stores to its own Morrisons Daily brand.

Joseph Sutton, Morrisons convenience, online and wholesale director, said McColl’s had ‘strong potential’, but he added: ‘We have a great deal of work to do.

‘We very much regret the proposed closure of 132 loss-making stores, but it is an important step towards the regeneration of the business.’

This post first appeared on Dailymail.co.uk

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Fancy paying your rent in Bitcoin? One letting agent now accepts cryptocurrency

A property firm is now allowing tenants to pay their rent using…

Bleak Friday as shoppers swerve the High Street

High Streets suffered a bitter blow as Black Friday deals failed to…

We love our seaside town – but there’s a massive catch in the summer

SEAFRONT residents in one of the UK’s best coastal towns say life…

Supermarket lockdown rules for Tesco, Asda, Sainsbury’s, Aldi, Morrisons, Lidl and M&S

WITH England still in lockdown, we explain the rules shoppers must follow…